It’s not that ipv4 space is exhausted, there’s plenty of it available. It’s that early on it was mismanaged to the point that people / companies were able to buy entire /8’s for basically nothing and hold them forever.
*) https://en.wikipedia.org/wiki/IPv4_address_exhaustion#/media...
but there are waitlists to fulfill, so...you're probably still right.
(tl;dr: "repatriate the poorly allocated legacy ip space" is a losing proposition)